AC Milan is heading for a listing in Hong Kong after financing from US hedge fund Elliott Management revived a Chinese deal to buy the Italian football club from former Italian prime minister Silvio Berlusconi.
Elliott has agreed to provide part of the financing for little-known Chinese investor Yonghong Li to buy AC Milan for €740m, said people directly informed of the deal.
The transaction values AC Milan at about four times revenues, putting it on a par with Chinese Suning Holdings’ purchase of a majority stake in Inter Milan last year.
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